Cutera Stock Forecast
High volatility in Cutera stock price on Wednesday which ended trading at $2.45
(Updated on May 01, 2024)
The Cutera stock price gained 1.24% on the last trading day (Wednesday, 1st May 2024), rising from $2.42 to $2.45. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.64% from a day low at $2.20 to a day high of $2.52. The price has risen in 6 of the last 10 days and is up by 2.94% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 53 thousand more shares were traded than the day before. In total, 632 thousand shares were bought and sold for approximately $1.55 million.
Given the current short-term trend, the stock is expected to fall -26.05% during the next 3 months and, with a 90% probability hold a price between $0.790 and $1.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CUTR Signals & Forecast
Mostly positive signals in the chart today. The Cutera stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.21 and $1.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 01, 2024, and so far it has risen 77.54%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Cutera stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.30 and $2.21. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cutera finds support just below today's level at $2.30. If this is broken, then the next support from accumulated volume will be at $2.21 and $1.97.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.322 between high and low, or 14.64%. For the last week, the stock has had daily average volatility of 11.97%.
Our recommended stop-loss: $2.36 (-3.76%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (CUTR) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Cutera to open at $2.39, and during the day (based on 14 day Average True Range), to move between $2.15 and $2.75, which gives a possible trading interval of +/-$0.299 (+/-12.22%) up or down from last closing price. If Cutera takes out the full calculated possible swing range there will be an estimated 24.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.30 (6.12%) than the resistance at $2.64 (7.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Cutera will release earnings AMC on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.06. We will update the financials statements for Cutera, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.26% in the first trading day after earnings release.
Is Cutera stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.875 Buy Candidate Downgraded
Predicted Opening Price for Cutera of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $2.39 ( 2.42%) | $2.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUTR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.71 | 10.72 % | |
| R2 | 2.59 | 5.70 % | ||
| R1 | 2.51 | 2.60 % | ||
| Current price: | 2.45 | |||
| Support | S1 | 2.27 | -7.44 % | |
| S2 | 2.19 | -10.54 % | ||
| S3 | 2.07 | -15.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.04 | 24.08 % | |
| R2 | 2.93 | 19.59 % | ||
| R1 | 2.64 | 7.76 % | ||
| Current price | 2.45 | |||
| Support | S1 | 2.30 | -6.12% | |
| S2 | 2.21 | -9.80% | ||
| S3 | 1.97 | -19.59% |
FAQ
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